FX RATES AND USDINR FWDS

Major developments:
USD is now at 75.83. USDINR opened at 75.92. The pair could trade in the 75.55-75.95 Zone. 
RBI kept status quo on repo rates, but increased reverse repo by 40 bps.
Policy remains accomodative. GDP growth for 2022-23 fiscal revised lower to 7.2% from 7.8%.
Inflation is expected to average 5.7% in 2022-23. RBI Governor said that all tools will be used to 
preserve macro economic stability in lieu of headwinds due to Russian invasion of Ukraine.
10 Year Yield spiked to 7.01%. Rupee gained from 75.96 to 75.76.
-USDINR is at 75.83 .Prior day’s close was 75.96.
-Indian Equity indices decline.
-Indian 10 year G-SEC yield is at 7.01%.-USDINR 1 yr fwd premia is at 3.85%.USDINR @ 75.83, EUR/USD 1.0857, GBP/USD @ 1.3063, USD/JPY @ 123.97, EUR/INR @ 82.33, GBP/INR @ 99.05JPY/INR @ 61.16Gold@1928, WTI Crude @ 97.30, Nifty @ 17662(+24), 10 Year G-SEC @ 7.01%.

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